globalization or globalism is the
contemporary economic strategy that
maintains the world marketplace should
be free of local national or regional
limits hi I’m Rebecca Brayton and
welcome to watchmojo.com and today in
part one of our interview with dr. john
ralston saul this author and essayist
discusses what fueled his 2005 book the
collapse of globalism and the
reinvention of the world in 1999 I was
in Australia and I had a meeting with
the head of the reserve bank of
australia and I came out of there and
that night I gave us beach on national
television and and in the middle of
speech I said you know I think
globalization is on the way out i think
it’s falling apart wheels are coming off
the bus i gave a whole series of reasons
i think about three years later i did a
cover of harper’s magazine in the states
saying that it was essentially over and
then i wrote the book for collapse of
Global’s and what four years ago now i
guess and you know people were surprised
and I’ve been around a while so they
felt they had some people felt they had
to listen and they were curious I don’t
think they quite believe me you know
because there’s really nobody in the
economics community who can imagine an
alternate world even the ones who
disagree or inside the logic they’re
just editing on the edges hey guess what
it’s it’s collapsing pretty fast but I
think it already was and I think the
problem now is that the focus is almost
entirely on the money markets and the
financial system it’s a conundrum
because the financial system is the
problem is one of the big problems it’s
like this gigantic souffle of
meaningless money that doesn’t do
anything except sort of have fun with
itself you know it’s real
pretty self indulgent but but you know
the British economy has been
restructured around it all of our
economies have been partly restructured
around it we’ve given up doing all sorts
of things on the basis of a delusionary
misunderstanding that which was that
money is real money isn’t real money is
something that makes other things real
and so it’s very big and if you let it
collapse that has all sorts of
implications 0 into collapse but if you
don’t let it collapse what you’re doing
is stabilizing delusion stabilizing
inflation and in order to do that which
is what they’re trying to do over you
you basically have to freeze a lot of
the rest of the economy in place in an
artificial place in order to hold up
this ridiculous souffle that’s falling
you know they’re trying to inject egg
whites into a falling souffle it doesn’t
work right the intellectual cleansing in
the in the University economics
departments has been so severe over the
last couple of decades that even though
there are some people saying interesting
things there are nowhere near power and
to get them anywhere near power is
virtually impossible because of all the
gates so you’re seeing that basically
the advice for change is coming from the
people who created the problem it’s
ridiculous and even you know Paulson in
the United States who will soon be gone
thank God you know is one of the one of
the originators of the problem but you
know equally will you know Obama be able
to find somebody who isn’t one of the
originator of the problem and Prime
Minister of Britain who’s being treated
as a hero is one of the originator of
the problem
contemporary economic strategy that
maintains the world marketplace should
be free of local national or regional
limits hi I’m Rebecca Brayton and
welcome to watchmojo.com and today in
part one of our interview with dr. john
ralston saul this author and essayist
discusses what fueled his 2005 book the
collapse of globalism and the
reinvention of the world in 1999 I was
in Australia and I had a meeting with
the head of the reserve bank of
australia and I came out of there and
that night I gave us beach on national
television and and in the middle of
speech I said you know I think
globalization is on the way out i think
it’s falling apart wheels are coming off
the bus i gave a whole series of reasons
i think about three years later i did a
cover of harper’s magazine in the states
saying that it was essentially over and
then i wrote the book for collapse of
Global’s and what four years ago now i
guess and you know people were surprised
and I’ve been around a while so they
felt they had some people felt they had
to listen and they were curious I don’t
think they quite believe me you know
because there’s really nobody in the
economics community who can imagine an
alternate world even the ones who
disagree or inside the logic they’re
just editing on the edges hey guess what
it’s it’s collapsing pretty fast but I
think it already was and I think the
problem now is that the focus is almost
entirely on the money markets and the
financial system it’s a conundrum
because the financial system is the
problem is one of the big problems it’s
like this gigantic souffle of
meaningless money that doesn’t do
anything except sort of have fun with
itself you know it’s real
pretty self indulgent but but you know
the British economy has been
restructured around it all of our
economies have been partly restructured
around it we’ve given up doing all sorts
of things on the basis of a delusionary
misunderstanding that which was that
money is real money isn’t real money is
something that makes other things real
and so it’s very big and if you let it
collapse that has all sorts of
implications 0 into collapse but if you
don’t let it collapse what you’re doing
is stabilizing delusion stabilizing
inflation and in order to do that which
is what they’re trying to do over you
you basically have to freeze a lot of
the rest of the economy in place in an
artificial place in order to hold up
this ridiculous souffle that’s falling
you know they’re trying to inject egg
whites into a falling souffle it doesn’t
work right the intellectual cleansing in
the in the University economics
departments has been so severe over the
last couple of decades that even though
there are some people saying interesting
things there are nowhere near power and
to get them anywhere near power is
virtually impossible because of all the
gates so you’re seeing that basically
the advice for change is coming from the
people who created the problem it’s
ridiculous and even you know Paulson in
the United States who will soon be gone
thank God you know is one of the one of
the originators of the problem but you
know equally will you know Obama be able
to find somebody who isn’t one of the
originator of the problem and Prime
Minister of Britain who’s being treated
as a hero is one of the originator of
the problem
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